Latest news with #Egyptian-Bahraini
Zawya
23-02-2025
- Business
- Zawya
Minister of Planning, Economic Development, and International Cooperation during the Egyptian-Bahraini Governmental Committee Sessions
H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the Egyptian-Bahraini Governmental Committee meeting on trade, economic, scientific, and technical cooperation, held in the Kingdom of Bahrain. The meeting was chaired by Mr. Ahmed Kouchok, Minister of Finance, and Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and Economy in Bahrain, with the participation of Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade, and representatives from both governments and the business sector of the two countries. In H.E.'s speech, Minister Al-Mashat emphasized the close partnership with Bahrain, highlighting the government's commitment to strengthening ties between the two countries across various economic, commercial, and investment fields. The trade exchange between the two countries reached approximately $661.4 million in 2024. H.E. Dr. Al-Mashat also pointed out Bahraini investments in Egypt in sectors such as finance, industry, construction, agriculture, tourism, services, and information and communications technology, in addition to Egyptian investments in Bahrain, which are concentrated in real estate and tourism. She clarified that Egypt welcomes investors from Bahrain, offering numerous investment opportunities and enhancing cooperation in the field of entrepreneurship and startups, in line with the Egyptian government's focus on this vital sector and the establishment of a specialized ministerial group. H.E. Minister Al-Mashat commended the joint efforts to convene the second session of the committee, despite the complex political, developmental, and economic challenges faced by the Arab region, which represents a pivotal stage in shaping the future of our peoples and future generations. She noted that the world today is experiencing shared challenges, geopolitical tensions, and a decline in many development indicators, making it necessary to develop global financing systems to be more just, efficient, and effective. H.E. Dr. Al-Mashat affirmed that, in light of these global developments, the importance of such high-level joint committees is underscored, representing an essential platform for dialogue and shared thinking to benefit from successful experiences across all fields and levels. H.E. Minister Al-Mashat also highlighted national efforts to enhance macroeconomic stability and improve the business environment amid regional and global economic developments, setting ambitious developmental goals through Egypt's National Sustainable Development Plan: Egypt Vision 2030, which reflects the three dimensions of sustainable development: economic, social, and environmental. She mentioned the Ministry's plan, in cooperation with the United Nations Development Programme, to launch the second phase of the localization reports for the Sustainable Development Goals (27 reports for Egyptian governorates), which serve as an essential tool for decision-makers and policymakers to direct development efforts effectively and respond to local needs, ultimately boosting inclusive and sustainable growth nationwide. H.E. Dr. Al-Mashat reiterated that the Ministry of Planning, Economic Development, and International Cooperation is working on preparing a comprehensive executive plan aimed at promoting sustainable growth, macroeconomic stability, and job creation by focusing on improving the business environment and supporting trade-exchangeable sectors through the adoption of corrective fiscal and monetary policies, as well as the governance of public investments to allow space for the private sector—building a more dynamic, flexible, and competitive economy through increased investments. H.E. Minister Al-Mashat added that Egypt continues its efforts to implement economic and structural reforms since 2016, to enhance economic competitiveness, improve the business environment, and increase the macroeconomy's ability to withstand external shocks, support the green transition, and open up future prospects for inclusive and sustainable development, maximizing benefits from developmental partnerships financially and technically. These reforms are based on five main pillars: 1) strengthening macroeconomic stability, 2) restructuring Egypt's economic production through focusing on the real economy sectors, 3) improving competitiveness and the business environment, 4) supporting the green transition, and 5) improving labor market efficiency and the vocational education and training system. H.E. Dr. Al-Mashat emphasized that these interventions have reflected positively on economic growth indicators, with the non-petroleum manufacturing sector leading positive growth after a period of decline. The industrial production index grew following a series of declines starting from the third quarter of fiscal year 2021/2022. Private sector investments grew in the first quarter of the current fiscal year, accounting for 63% of total investments, with this positive momentum reflected in the Purchasing Managers' Index for January 2025, which achieved its best performance in 4 years, scoring 50 points, surpassing the neutral zone. H.E. Dr. Al-Mashat also reviewed inflation rates, the rise in remittances from Egyptians abroad, continued growth in foreign direct investment, growth in tourism revenues, and the increase in foreign exchange reserves. H.E. Dr. Al-Mashat pointed to the Egyptian labor market situation, noting that 2023 was one of the best years following the COVID-19 pandemic since 2020, as the Egyptian labor market was able to absorb around one million jobs. One of the key sectors to absorb this number of jobs was manufacturing, which alone accounted for 255,000 jobs, or about 25% of the total jobs created. The indicators show the recovery of Egypt's economic growth in the last quarter of 2023/2024, continuing into the first quarter of the current fiscal year 2024/2025 (with a growth rate of 3.5%). This growth was driven by significant improvements in key economic activities such as manufacturing, electricity, and the banking sector. It is expected that economic activity will continue to improve in the coming period, with the government committed to continuing effective measures to support macroeconomic stability, contain inflation, and stimulate private sector activity. H.E. Dr. Al-Mashat mentioned that Egypt continues to implement structural reforms by applying good governance rules, enhancing investment spending efficiency, and setting a ceiling for public investments, which is one trillion Egyptian pounds for the fiscal year 2024/2025. The private sector is expected to account for 50% of total investments, compared to 43% in the previous year 2023/2024. H.E. Minister Al-Mashat confirmed that Egypt possesses many competitive advantages that enhance its ability to attract and increase foreign investments, including favorable infrastructure such as roads, ports, maritime transport, airports, and industrial and renewable energy complexes. She highlighted a series of ambitious steps and measures being implemented to improve the investment climate, empower the private sector, and overcome challenges faced by investors. Some of the key measures include the implementation of new tax policies, providing incentives for companies, issuing golden licenses, launching a national industrial strategy aimed at turning Egypt into a global industrial hub, and a national strategy for foreign direct investment in cooperation with the World Bank and development partners. To activate this, the Egyptian government is working with the World Bank to discuss immediate actions that may be necessary to stimulate high and sustainable growth rates amid macroeconomic and external challenges. One of the key components of this cooperation with the World Bank Group is Egypt's ambitious green transition agenda. The government has worked to increase the proportion of green public investments from 15% in the fiscal year 2020/2021, aiming to reach 50% by 2025. On another note, H.E. Dr. Al-Mashat referred to the launch of the comprehensive national strategy for financing for development (E-INFS) in September 2024. The strategy aims to: (a) mobilize and align local public financing with national development priorities; (b) align private financing and investment; (c) align developmental cooperation; and (d) create an enabling environment and non-financial means for implementation. The strategy includes all financing tools that the Egyptian government can use to address development gaps in various sectors. H.E. Dr. Al-Mashat also highlighted that Egypt's distinguished national relations with development partners have provided concessional financing for the private sector amounting to more than $14.5 billion since 2020, in cooperation with multilateral and bilateral development partners. These financing packages have been directed to support strategic sectors such as renewable energy within the "NWFE" program, small and medium enterprises, transportation, industry, agriculture, and trade, contributing to enhancing sustainable economic growth and improving the business environment. H.E. Minister Al-Mashat concluded by stating that Egypt is continuing its strategic approach to diversify energy sources, enhance energy efficiency, and transform into a regional energy export hub by stimulating direct investments in this vital sector, alongside establishing economic partnerships with sister and friendly countries, particularly in the field of clean energy.
See - Sada Elbalad
23-02-2025
- Business
- See - Sada Elbalad
Al Mashat Meets Bahraini Sustainable Development Minister & CEO of Economic Development Board of Bahrain
Rana Atef Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Noor bint Ali Al-Khalifa, Minister of Sustainable Development and CEO of the Economic Development Board of Bahrain, during the Egyptian-Bahraini Government Committee's activities for commercial, economic, scientific, and technological cooperation. The meeting focused on areas of joint cooperation in light of the priorities of both countries and enhancing joint efforts to achieve sustainable development. Al-Mashat expressed gratitude to the Bahraini side for their warm welcome and hospitality during the committee's activities, emphasizing the importance of the joint committee's meetings between the two countries. The meetings resulted in exchanging views and consultations to strengthen the bilateral relations between the two countries in various fields, particularly in economic, commercial, scientific, and other areas. The Minister of Planning, Economic Development, and International Cooperation commended the historical relations between Egypt and Bahrain, and the mutual understanding between the two countries on all levels. Dr. Al-Mashat affirmed the Egyptian state's commitment, under the leadership of President Abdel Fattah El-Sisi, to developing cooperation with the Kingdom of Bahrain across all fields and elevating it to the level of strategic relations. Minister Al-Mashat emphasized the importance of maintaining direct communication between the two sides through ministries and various agencies to reach agreements for joint economic work, open new horizons, and propose emerging fields that align with the rapid changes occurring globally, particularly in the economic and technical cooperation. This would increase trade exchange, reflecting the strength of the relations between the two countries. Dr. Al-Mashat also praised Bahrain's role and membership in the Industrial Integration Partnership for sustainable economic development, which includes Egypt, the UAE, Jordan, and Morocco. Recently, Qatar and Turkey joined the partnership to strengthen the collective capacity of the countries in achieving regional industrial integration goals. Minister Al-Mashat reviewed key aspects of Egypt's economic reform experience, including its financial and structural phases, with an ambitious and successful program for creating unprecedented infrastructure and urban development. She pointed to Egypt's accumulated expertise through the establishment of major national projects, including industrial and agricultural zones, modern urban communities, and new cities of the fourth generation. Dr. Al-Mashat also mentioned the strong relationships with international financing institutions and the Ministry's readiness to enhance efforts to exchange expertise with Bahrain in international cooperation. The Minister of Planning, Economic Development, and International Cooperation also highlighted the role of the Ministry after the merger in the fields of planning and economic development, preparing long, medium, and short-term sustainable development plans, and ensuring the consistency of implementing sectoral strategies and plans with the national development strategy, the General State Budget Law, and related budget laws. Dr. Al-Mashat mentioned participating in preparing program and performance plans, taking necessary actions to implement them, diversifying sources of funding for development plans and programs, and enhancing partnerships with the private sector, civil society, and development partners to promote financing for development. Additionally, she reiterated formulating the National Sustainable Development Strategy (Egypt Vision 2030) in coordination with ministries and relevant bodies. Dr. Al-Mashat welcomed the cooperation and exchange of experiences with Bahrain in areas of sustainable development, preparing voluntary national reports on content and reporting processes, local voluntary reports with a focus on localizing sustainable development goals at the local level in planning. This is in addition to the planning and monitoring investment projects through an integrated electronic system. This includes economic and developmental policy formulation, central, sectoral, and regional-level planning, program and performance budgeting, the government performance monitoring system, improving public investment efficiency, and integrating environmental sustainability standards in development plans, alongside building capacities.
See - Sada Elbalad
22-02-2025
- Business
- See - Sada Elbalad
Egypt Strengthens Economic Partnership with Bahrain
Israa Farhan Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the Egyptian-Bahraini Governmental Committee meeting on trade, economic, scientific, and technical cooperation, held in the Kingdom of Bahrain. The meeting was chaired by Mr. Ahmed Kouchok, Minister of Finance, and Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and Economy in Bahrain, with the participation of Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade, and representatives from both governments and the business sector of the two countries. In her speech, Al-Mashat emphasized the close partnership with Bahrain, highlighting the government's commitment to strengthening ties between the two countries across various economic, commercial, and investment fields. The trade exchange between the two countries reached approximately $661.4 million in 2024. Al-Mashat also pointed out Bahraini investments in Egypt in sectors such as finance, industry, construction, agriculture, tourism, services, and information and communications technology, in addition to Egyptian investments in Bahrain, which are concentrated in real estate and tourism. She clarified that Egypt welcomes investors from Bahrain, offering numerous investment opportunities and enhancing cooperation in the field of entrepreneurship and startups, in line with the Egyptian government's focus on this vital sector and the establishment of a specialized ministerial group. The Egyptian minister commended the joint efforts to convene the second session of the committee, despite the complex political, developmental, and economic challenges faced by the Arab region, which represents a pivotal stage in shaping the future of our peoples and future generations. She noted that the world today is experiencing shared challenges, geopolitical tensions, and a decline in many development indicators, making it necessary to develop global financing systems to be more just, efficient, and effective. Al-Mashat affirmed that, in light of these global developments, the importance of such high-level joint committees is underscored, representing an essential platform for dialogue and shared thinking to benefit from successful experiences across all fields and levels. H.E. Minister Al-Mashat also highlighted national efforts to enhance macroeconomic stability and improve the business environment amid regional and global economic developments, setting ambitious developmental goals through Egypt's National Sustainable Development Plan: Egypt Vision 2030, which reflects the three dimensions of sustainable development: economic, social, and environmental. She mentioned the Ministry's plan, in cooperation with the United Nations Development Programme, to launch the second phase of the localization reports for the Sustainable Development Goals (27 reports for Egyptian governorates), which serve as an essential tool for decision-makers and policymakers to direct development efforts effectively and respond to local needs, ultimately boosting inclusive and sustainable growth nationwide. Al-Mashat reiterated that the Ministry of Planning, Economic Development, and International Cooperation is working on preparing a comprehensive executive plan aimed at promoting sustainable growth, macroeconomic stability, and job creation by focusing on improving the business environment and supporting trade-exchangeable sectors through the adoption of corrective fiscal and monetary policies, as well as the governance of public investments to allow space for the private sector—building a more dynamic, flexible, and competitive economy through increased investments. H.E. Minister Al-Mashat added that Egypt continues its efforts to implement economic and structural reforms since 2016, to enhance economic competitiveness, improve the business environment, and increase the macroeconomy's ability to withstand external shocks, support the green transition, and open up future prospects for inclusive and sustainable development, maximizing benefits from developmental partnerships financially and technically. These reforms are based on five main pillars: 1) strengthening macroeconomic stability, 2) restructuring Egypt's economic production through focusing on the real economy sectors, 3) improving competitiveness and the business environment, 4) supporting the green transition, and 5) improving labor market efficiency and the vocational education and training system. Dr. Al-Mashat emphasized that these interventions have reflected positively on economic growth indicators, with the non-petroleum manufacturing sector leading positive growth after a period of decline. The industrial production index grew following a series of declines starting from the third quarter of fiscal year 2021/2022. Private sector investments grew in the first quarter of the current fiscal year, accounting for 63% of total investments, with this positive momentum reflected in the Purchasing Managers' Index for January 2025, which achieved its best performance in 4 years, scoring 50 points, surpassing the neutral zone. Dr. Al-Mashat also reviewed inflation rates, the rise in remittances from Egyptians abroad, continued growth in foreign direct investment, growth in tourism revenues, and the increase in foreign exchange reserves. Dr. Al-Mashat pointed to the Egyptian labor market situation, noting that 2023 was one of the best years following the COVID-19 pandemic since 2020, as the Egyptian labor market was able to absorb around one million jobs. One of the key sectors to absorb this number of jobs was manufacturing, which alone accounted for 255,000 jobs, or about 25% of the total jobs created. The indicators show the recovery of Egypt's economic growth in the last quarter of 2023/2024, continuing into the first quarter of the current fiscal year 2024/2025 (with a growth rate of 3.5%). This growth was driven by significant improvements in key economic activities such as manufacturing, electricity, and the banking sector. It is expected that economic activity will continue to improve in the coming period, with the government committed to continuing effective measures to support macroeconomic stability, contain inflation, and stimulate private sector activity. Dr. Al-Mashat mentioned that Egypt continues to implement structural reforms by applying good governance rules, enhancing investment spending efficiency, and setting a ceiling for public investments, which is one trillion Egyptian pounds for the fiscal year 2024/2025. The private sector is expected to account for 50% of total investments, compared to 43% in the previous year 2023/2024. Al-Mashat confirmed that Egypt possesses many competitive advantages that enhance its ability to attract and increase foreign investments, including favorable infrastructure such as roads, ports, maritime transport, airports, and industrial and renewable energy complexes. She highlighted a series of ambitious steps and measures being implemented to improve the investment climate, empower the private sector, and overcome challenges faced by investors. Some of the key measures include the implementation of new tax policies, providing incentives for companies, issuing golden licenses, launching a national industrial strategy aimed at turning Egypt into a global industrial hub, and a national strategy for foreign direct investment in cooperation with the World Bank and development partners. To activate this, the Egyptian government is working with the World Bank to discuss immediate actions that may be necessary to stimulate high and sustainable growth rates amid macroeconomic and external challenges. One of the key components of this cooperation with the World Bank Group is Egypt's ambitious green transition agenda. The government has worked to increase the proportion of green public investments from 15% in the fiscal year 2020/2021, aiming to reach 50% by 2025. On another note, H.E. Dr. Al-Mashat referred to the launch of the comprehensive national strategy for financing for development (E-INFS) in September 2024. The strategy aims to: (a) mobilize and align local public financing with national development priorities; (b) align private financing and investment; (c) align developmental cooperation; and (d) create an enabling environment and non-financial means for implementation. The strategy includes all financing tools that the Egyptian government can use to address development gaps in various sectors. H.E. Dr. Al-Mashat also highlighted that Egypt's distinguished national relations with development partners have provided concessional financing for the private sector amounting to more than $14.5 billion since 2020, in cooperation with multilateral and bilateral development partners. These financing packages have been directed to support strategic sectors such as renewable energy within the "NWFE" program, small and medium enterprises, transportation, industry, agriculture, and trade, contributing to enhancing sustainable economic growth and improving the business environment. H.E. Minister Al-Mashat concluded by stating that Egypt is continuing its strategic approach to diversify energy sources, enhance energy efficiency, and transform into a regional energy export hub by stimulating direct investments in this vital sector, alongside establishing economic partnerships with sister and friendly countries, particularly in the field of clean energy.
Al-Ahram Weekly
04-02-2025
- Politics
- Al-Ahram Weekly
President El-Sisi, King Hamad of Bahrain discuss regional developments, Gaza ceasefire - Foreign Affairs
President Abdel-Fattah El-Sisi discussed on Tuesday regional developments including the Gaza ceasefire agreement with King Hamad bin Isa Al Khalifa of Bahrain in a telephone call, the Egyptian Presidency announced. According to the Egyptian Presidency, El-Sisi briefed Hamad on ongoing efforts to fully implement the ceasefire agreement in Gaza. This includes the exchange of hostages and detainees and the delivery of humanitarian aid to alleviate the unprecedented humanitarian crisis in Gaza. The Egyptian President further underscored the urgent need for Gaza's reconstruction and the importance of a unified Arab position in supporting lasting peace and stability in the Middle East. King Hamad commended Egypt's pivotal role in brokering the ceasefire agreement and stressed the need for its full implementation. He also highlighted the imperative of launching a political process that leads to a comprehensive and permanent peace agreement to secure long-term regional stability. Additionally, the leaders discussed developments in Syria, Lebanon, Libya, and Sudan, reaffirming their commitment to promoting stability in these countries and avoiding further conflicts. Both leaders also emphasized the importance of enhancing Egyptian-Bahraini bilateral cooperation across various fields, particularly in the economic and investment sectors. Short link:
Zawya
28-01-2025
- Health
- Zawya
Egypt, Bahrain discuss strengthening health sector cooperation, expertise exchange
Egypt - Khaled Abdel Ghaffar, Egypt's Deputy Prime Minister and Minister of Health and Population, met with Jalila bint Sayed Jawad, Bahrain's Minister of Health, to explore avenues for enhancing cooperation and sharing expertise in the health sector. The meeting took place during the Arab Health Expo conference in the United Arab Emirates, held from 27 to 29 January 2025. According to Hossam Abdel Ghaffar, the official spokesperson for Egypt's Ministry of Health, the two ministers discussed the creation of a joint digital platform for scientific research. The platform would aim to promote collaboration in the field of artificial intelligence, improve healthcare services, and provide citizens with access to cutting-edge global technologies and advanced medical services. During the talks, Minister Abdel Ghaffar highlighted Egypt's advancements in mechanizing kidney dialysis services and the Egyptian Ambulance Authority system, offering to share Egypt's expertise in these areas with Bahrain. Both sides also discussed strategies for training healthcare professionals based on the specific needs of each country, including potential reciprocal visits to exchange knowledge on hospital management, primary care, and preventive healthcare systems. The two ministers also addressed ongoing efforts to support the people of Gaza. Bahrain's recent announcement of health and education initiatives aimed at those affected by the war was reviewed. Discussions included the proposal to establish an Egyptian-Bahraini rehabilitation center in Gaza to assess and treat both the physical and psychological impacts of the conflict. Additionally, the two sides explored opportunities for collaboration in nursing education. They discussed the exchange of experiences and training in specialized fields such as emergency nursing, intensive care, neonatal care, family health, and geriatric nursing. Both countries agreed to facilitate visits between nursing bodies to learn from each other's best practices. Another key topic was the Egyptian Genome Project. The ministers agreed to formalize knowledge exchange through a memorandum of understanding (MoU). This agreement will also include the development of 'remote' diagnostic radiology services, designed to enhance diagnostic accuracy and speed through the Teleradiology Solution National Programme. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
